What’s Up, What’s Down: Spotlight on Energy Futures
Comments for Thursday, July 1, 2010
Looking Ahead to Today by Reflecting Back at Wednesday’s Price Action
ENERGIES:
Higher closes yesterday for natural gas while lower for crude and heating oil along with the RBOB. The crude, heat and RBOB made their lowest close since June 9-11 all getting close to possible sell signals while gas did give me a SELL SIGNAL on Tuesday. Gas made its lowest low since June 3rd before rallying to close higher in reversal type action and also has very good support from 420 to 460 basis the August contract making it a bad idea to sell in its present price area. BUY SIGNALS FOR CRUDE AND HEATING OIL ALONG WITH THE RBOB. SELL SIGNAL FOR NATURAL GAS. CALL FOR DETAILS!
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Rick Alexander has been a broker and analyst in the futures business for over thirty years. He is a Vice-President for Sales and Trading at the Zaner Group (www.zaner.com) a Chicago-based futures brokerage firm. Email Rick at ralexander@zaner.com.
The information in this Report and the opinions expressed are subject to change without notice. Neither the information nor any opinion expressed constitutes a solicitation by Rick Alexander or the Zaner Group of the purchase or sale of any futures or options. Futures and options trading is speculative in nature and involves risks. Spread trading is not necessarily less risky than outright positions. Futures and options trading is not suitable for all investors.